Reducing Elderly Poverty in Thailand

This policy note examines Thailand's programs for preventing poverty among the elderly, and suggests options for improving the effectiveness of these programs. The number of elderly people in Thailand will increase dramatically over the next 30 years, and the elderly already have a higher poverty rate than the population as a whole. Although Thailand currently has a total of eight pension programs, the majority of the benefits go to those who are not poor. In addition, unlike most countries, Thailand lacks a pension and provident fund supervision agency or a consolidated financial institution regulator, and does not appear to have a well-articulated national pension policy. This has led to the development of two major sets of pension programs, with one group sponsored by the ministry of labor and the social security office, and the other by the ministry of finance and the securities commission. These are also supplemented by an assortment of social assistance and community programs sponsored by the ministry of social development and human security and the ministry of interior. This policy note will examine the above issues in more detail and recommend policy options to simplify and coordinate the various pension and social assistance programs aimed at preventing poverty among the elderly, target more spending at the elderly poor, and assure long-term fiscal sustainability.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	Washington, DC 2012-10
Subjects:	ACCOUNT HOLDERS, AGE DISTRIBUTION, AGING POPULATION, AGRICULTURAL COOPERATIVES, ANNUITIES, ANNUITY, ASSET VALUE, BANK DEBT, BANK DEPOSITS, BANK OFFICE, BASIC BENEFITS, BENEFICIARY, BENEFIT FORMULA, BENEFIT LEVEL, BENEFIT LEVELS, BOTH SEXES, CERTIFICATES OF DEPOSIT, CITIZENS, CIVIL SERVICE PENSION, CIVIL SOCIETY ORGANIZATIONS, COMMERCIAL BANKS, COMMUNITY DEVELOPMENT, CONSUMPTION EXPENDITURE, CONSUMPTION SMOOTHING, CONTRIBUTION COLLECTION, CONTRIBUTION PAYMENTS, CONTRIBUTION RATE, CONTRIBUTION RATES, COPYRIGHT CLEARANCE, COPYRIGHT CLEARANCE CENTER, CORPORATE DEBT, CORRUPTION, CREDIBILITY, DEBT, DEBT INSTRUMENTS, DEFINED BENEFIT, DEFINED CONTRIBUTION PENSION, DEPENDENCY RATIO, DEPENDENCY RATIOS, DISABILITY, DISSEMINATION, ECONOMIC CRISIS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ELDERLY, ELDERLY PEOPLE, ELDERLY PERSONS, ELDERLY POPULATION, EQUITIES, EXCHANGE COMMISSION, EXISTING INFRASTRUCTURE, EXPENDITURE, EXPENDITURES, FAMILIES, FAMILY MEMBERS, FAMILY SUPPORT, FEMALE, FERTILITY, FINANCIAL CRISIS, FINANCIAL INSTITUTION, FINANCIAL TRANSACTIONS, FISCAL CONSTRAINTS, FORMAL PENSIONS, FRAUD, FUND MANAGERS, FUTURE PAYMENTS, GENDER, GOVERNMENT BONDS, GOVERNMENT PENSION, GOVERNMENT POLICY, GOVERNMENT SAVINGS, GOVERNMENT SPENDING, GROSS DOMESTIC PRODUCT, HEALTH CARE, HEALTH INSURANCE, HOUSEHOLD INCOME, HUMAN SECURITY, INCOME LEVEL, INCOME LEVELS, INCOME TAX, INDIVIDUAL ACCOUNT, INDIVIDUAL ACCOUNTS, INEQUALITY, INFLATION, INFORMAL SECTOR, INFORMAL SECTORS, INSURANCE, INTERNATIONAL BANK, INTERNATIONAL BEST PRACTICE, INTERNATIONAL STANDARDS, INVESTING, INVESTMENT INCOME, INVESTMENT MANAGEMENT, INVESTMENT MANAGERS, INVESTMENT OPPORTUNITIES, INVESTMENT POLICY, INVESTMENT RATE, IRREGULAR INCOME, LABOR FORCE, LABOR FORCE PARTICIPATION, LABOR MARKET, LEGAL FRAMEWORK, LEGAL STATUS, LIABILITY, LIFE EXPECTANCY, LIQUIDITY, MARKET SECURITIES, MICROFINANCE, MICROFINANCE INSTITUTIONS, MINIMUM BENEFIT, MOBILE PHONE, MONTHLY CONTRIBUTIONS, MORTALITY, MUTUAL FUND, MUTUAL FUNDS, NATIONAL PENSION, NATIONAL SAVING, NATIONAL SAVINGS, NUMBER OF CHILDREN, OLD AGE, OLD-AGE, OLD-AGE PENSION, OLDER PEOPLE, PENSION, PENSION ACCOUNT, PENSION ACCOUNTS, PENSION AGE, PENSION BENEFICIARIES, PENSION BENEFIT, PENSION BENEFITS, PENSION COST, PENSION FUND, PENSION PAYMENTS, PENSION PLAN, PENSION PLANS, PENSION POLICY, PENSION PROGRAM, PENSION PROGRAMS, PENSION REGULATOR, PENSION SAVINGS, PENSION SCHEME, PENSION SCHEMES, PENSION SUPERVISION, PENSION SYSTEM, PENSION SYSTEMS, PENSION TRANSFER, PENSIONERS, PERSONAL ASSETS, PERSONAL INCOME, PHONE BANKING, POLICY MAKERS, POLITICAL SUPPORT, POOR FAMILIES, POPULATION PROJECTIONS, POST OFFICE, PRIMARY EDUCATION, PRIVATE PENSION, PROVIDENT FUND, PROVIDENT FUNDS, PUBLIC EDUCATION, RATE OF RETURN, RATES OF RETURN, REAL ESTATE, REMOTE AREAS, REMOTE LOCATIONS, RESERVES, RETIREES, RETIREMENT, RETIREMENT AGE, RETIREMENT INCOME, RETIREMENT PENSION, RETIREMENT PROGRAMS, RETIREMENT SAVINGS, SALARY HISTORY, SAVINGS BANK, SECURITIES, SEX, SEXES, SHORT-TERM SAVINGS, SOCIAL ASSISTANCE, SOCIAL COST, SOCIAL DEVELOPMENT, SOCIAL PENSION, SOCIAL PENSIONS, SOCIAL PROGRAMS, SOCIAL PROTECTION, SOCIAL SAFETY NET, SOCIAL SECURITY, SOLVENCY, STATE BANK, STATE ENTERPRISE, TAX, TRANSACTION, TRANSACTION COSTS, TRANSPARENCY, TREASURY, TREASURY BILLS, VOLATILITY, VOLUNTARY PENSION, VULNERABILITY, WEDDINGS, WILL, WITHDRAWAL, WORK FORCE, WORKER CONTRIBUTIONS, WORKFORCE,
Online Access:	http://documents.worldbank.org/curated/en/949741468120871479/Reducing-elderly-poverty-in-Thailand-the-role-of-Thailands-pension-and-social-assistance-programs https://hdl.handle.net/10986/26767
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